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Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $933. Selected data for

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $933. Selected data for the companys operations last year follow: Units in beginning inventory 0, Units produced 23,000, Units sold 20,000, Units in ending inventory 3,000, Variable costs per unit: Direct materials $ 200, Direct labor $ 520, Variable manufacturing overhead $ 50, Variable selling and administrative $ 17, Fixed costs: Fixed manufacturing overhead $ 990,000, Fixed selling and administrative $ 870,000. 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. Note: Round your intermediate calculations and final answer to the nearest whole dollar amount. 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan

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